Entering Donar Advised Fund Contributions

Forum|Forum|4 years ago
February 24, 2022
2 replies
48 views

I have entered contributions to a Fidelity Donar Advised Fund using the Contribute Stock option under charitable donations. There is a Details of stock Donations Worksheet that has Charitable Organization Questions. Question number 4 is "What type of charitable organization was it? Check one:

Choices are: (a) 50% charity (b) Other than 50% charity (c) 50% Charity, 100% donation.

Which of the above choices is correct for a donation of appreciated stock to a Donar Advised Fund?

Thanks, Richard Ames

TurboTax Home & Biz Windows

Best answer by SteamTrain

The Fidelity Charitable Gift fund is a 50% Charity.

SteamTrainAnswer

Level 15

The Fidelity Charitable Gift fund is a 50% Charity.

____________*Answers are correct to the best of my knowledge when posted, but should not be considered to be legal or official tax advice.*

SteamTrain

Level 15

Even so, the contribution of Appreciated stock will end up being limited to 30% of your AGI...but that is handled in the background once you enter the ID of what stock, # of shares you donated, its acquisition date and cost basis.

The 50%/100% selection applies only to cash, and even then, is not allowed to any DAV's, even if it is cash.

____________*Answers are correct to the best of my knowledge when posted, but should not be considered to be legal or official tax advice.*